ARLINGTON, Va.-NAFCU reported it had one of its best years financially in 2008, with net income of $427,000.
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That's more than twice the net of $172,000 for 2007.
Unaudited results show revenues of $11.6 million for 2008 and expenses of $11.1 million. Dues income was up slightly to $6.79 million, from $6.75 million.
NAFCU President Fred Becker attributed the positive year to keeping expenses at a minimum while holding revenue from conferences, a key component of annual budgets, held steady, despite the economic slowdown. He said NAFCU Services Corp. contributed greater support to the bottom line than in previous years.
